Weidner Apartment Homes purchased The Alden at Cedar Park, a 349-unit asset in Cedar Park, Texas. Starlight Investments sold the property. The community was 95 percent occupied. Cedar Park is NW of Austin.
Multihousing News reports that Berkeley Point Capital, a subsidiary of Newmark, issued a $47.3 million Fannie Mae acquisition loan. Newmark brokered the deal on behalf of the seller and arranged the loan for the buyer.
Starlight acquired the building in 2020, when Slate Real Estate Partners brought it online.
The Alden at Cedar Park is four stories high. The floor plans range between one- and two-bedroom layouts, averaging 899 square feet. Experience elevated living at the Alden at Cedar Park Apartments. Located in North Austin near Cross Creek Market, 1890 Ranch, and the popular Domain retail district. The Alden at Cedar Park is a pet-friendly apartment community with thoughtfully designed interiors and easy access to the CapMetro Lakeline Rail Station and US-183, making commuting and exploring around your new home a breeze!
Community amenities include a swimming pool with shaded cabanas, a clubhouse featuring a resident lounge and bar, and a gym and outdoor areas comprising grilling stations.
A major suburb of Austin, Cedar Park gets you right into the area without having to live in the big city. If you like peace and quiet but don’t want to live all the way out in the woods, then Cedar Park is the place to be. It’s nice living so close to one of the biggest music cities in America, but you don’t even need to leave Cedar Park to take in a great concert. If you want entertainment, check out the H-E-B Center at Cedar Park. The center plays host to everything from monster truck shows to country and hip hop concerts. Cedar Park is only about 16 miles from Downtown Austin, making this an ideal location for commuters. Cedar Park is considered one of the fastest-growing cities in the country.
Newmark’s Patton Jones and Andrew Dickson spearheaded negotiations on behalf of Starlight Investments. Mitch Clarfield and Alec Newman arranged the debt placement on behalf of Weidner.
